Family Dollar profit shrinks as shoppers focus on essentials
July 10 (Reuters) - Family Dollar Stores Inc posted a smaller quarterly profit on Wednesday and said it expects customers to remain under financial pressure and hold back on purchases that are not absolutely necessary.
Family Dollar earned $120.9 million, or $1.05 per share, in the quarter ended June 1, down from $124.5 million, or $1.06 a share.
Sales rose 9 percent to $2.57 billion, while sales at stores open at least a year, or same-store sales, rose 2.9 percent. The discount chain expects same-store sales to rise 2 percent this quarter.
- U.S.' Kerry expresses regret to India over diplomat case |
- Washington, DC city council raises minimum wage to $11.50/hr in 2016
- China confirms near miss with U.S. ship in South China Sea
- Mega Millions winners in Georgia, California to split $648 million |
- Medical bills underlie 60 percent of U.S. bankrupts: study